Export revenues through Egypt’s Port Said free trade zone (FTZ) have reached $115 million in the year 2000, according to the head of the General Authority for Investment and Free Zones (GAFI), Muhammad Al-Ghamrawi, reported Al-Ahram daily.

This constitutes a 15 percent increase from the zone’s 1999 revenues. Inaugurated in 1976, the Port-Said free trade zone is one of seven such zones, which the association oversees. Total exports originating in all Egyptian FTZs stood at $540 million in 2000.

The zones created 60,000 new job opportunities, said to Al-Ghamrawi, adding that FTZ projects in progress created more than 50,000 jobs during the current year. ― (MENA Report)